Do M&A Advisors require a license to sell a business? Watch this video to find out.

professional profile

December 03, 2022

by a professional from Northern Arizona University in Tucson, AZ, USA


0
2
29
Replies
2
commentor profile
Reply by an intermediary
from The University of Chicago in Chicago, IL, USA
I am at the forefront of this subject (from day one 15 years ago) with the SEC and the congress. Scott in the video is a good friend,
In 1/2014 SEC issued a No Action letter (NAL) that says, in simple terms, that SEC will not take any action against a broker, regardless of the size of the transaction or the structure, if the buyer is "active" post-transaction and the broker is not involved in financing the transaction.
In Congress, we (leading associations) have a bill on this subject. It has passed the House 3 times unanimously. The bill asks for codifying the SEC NAL but with caps. The caps are sales should be less than $250 million or reported EBITDA is less than $25 million.
Some brokers in the industry do not want to rely on SEC NAL, others do.
commentor profile
Reply by an intermediary
from University of Florida in Nashville, TN, USA
Mike and others - is there any update on that reglation for < 25m in EBITDA? I heard it passed in the House but i was unsure where it stands today. Any thoughts welcomeed. Thanks
Join the discussion